Spectral AI (MDAI) Cost of Revenue (2022 - 2026)
Spectral AI's (MDAI) quarterly Cost of Revenue came in at $2.0 million in Q1 2026, down 44.5% YoY from $3.5 million in Q1 2025, and down 12.32% on a QoQ basis from $2.2 million in Q4 2025.
Spectral AI (MDAI) Cost of Revenue (2022 - 2026) Analysis & Trends
Spectral AI (MDAI) has 5 years of Cost of Revenue data on file, last reported at $2.0 million in Q1 2026.
- Quarterly Cost of Revenue fell 44.5% year-over-year to $2.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $9.2 million (down 44.43% YoY) and the FY2025 annual result came in at $10.7 million, down 34.23% from the prior year.
- Cost of Revenue declined to $2.0 million in Q1 2026, from $2.2 million in the prior quarter.
- In the past five years, Cost of Revenue ranged from a high of $4.5 million in Q3 2024 to a low of $2.0 million in Q1 2026.
- A 5-year average of $3.1 million and a median of $2.9 million in 2023 frame the typical range for Cost of Revenue.
- Annual changes were most pronounced in 2024 — Cost of Revenue soared 128.96% — and 2025, when it slumped 51.82%.
- Tracing MDAI's Cost of Revenue over 5 years: stood at $3.6 million in 2022, then retreated by 20.54% to $2.9 million in 2023, then jumped by 49.28% to $4.3 million in 2024, then slumped by 47.37% to $2.2 million in 2025, then dropped by 12.32% to $2.0 million in 2026.
- The last three Cost of Revenue figures came in at $2.0 million (Q1 2026), $2.2 million (Q4 2025), and $2.2 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Abbott Laboratories | 200.20 Bn | 194.60 Bn | 7.27 Bn | 5.33 Bn |
| 2 | Stryker | 129.69 Bn | 126.21 Bn | 4.50 Bn | 2.09 Bn |
| 3 | Medtronic | 120.14 Bn | 110.92 Bn | 6.41 Bn | 3.40 Bn |
| 4 | Boston Scientific | 74.16 Bn | 73.62 Bn | 3.85 Bn | 1.59 Bn |
| 5 | Edwards Lifesciences | 52.68 Bn | 48.43 Bn | 1.35 Bn | 392.40 Mn |
| 6 | Dexcom | 34.57 Bn | 32.62 Bn | 830.00 Mn | 478.40 Mn |
| 7 | GE HealthCare Technologies | 34.09 Bn | 31.98 Bn | 2.18 Bn | 2.25 Bn |
| 8 | Koninklijke Philips | 26.49 Bn | 23.17 Bn | 4.55 Bn | 2.57 Bn |
| 9 | Steris | 23.19 Bn | 22.70 Bn | 684.20 Mn | 808.60 Mn |
| 10 | Spectral AI | 50.85 Mn | 36.85 Mn | 1.11 Mn | 2.41 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 2.41 Mn |
| Jun 30, 2026 | 2.41 Mn |
| Mar 31, 2026 | 1.96 Mn |
| Mar 31, 2026 | 1.96 Mn |
| Dec 31, 2025 | 2.24 Mn |
| Dec 31, 2025 | 2.24 Mn |
| Sep 30, 2025 | 2.17 Mn |
| Sep 30, 2025 | 2.17 Mn |
| Jun 30, 2025 | 2.78 Mn |
| Jun 30, 2025 | 2.78 Mn |
| Mar 31, 2025 | 3.54 Mn |
| Mar 31, 2025 | 3.54 Mn |
| Dec 31, 2024 | 4.26 Mn |
| Dec 31, 2024 | 4.26 Mn |
| Sep 30, 2024 | 4.51 Mn |
| Sep 30, 2024 | 4.51 Mn |
| Jun 30, 2024 | 4.16 Mn |
| Jun 30, 2024 | 4.16 Mn |
| Mar 31, 2024 | 3.38 Mn |
| Mar 31, 2024 | 3.38 Mn |